industrial//industrial ecosystem//EPC

**Engineering, Procurement and Construction**: the company or consortium that designs, buys, builds and commissions a large industrial installation (a refinery, a chemical plant, a factory) and hands it over to the owner or operator.

Engineering, Procurement and Construction: the company or consortium that designs, buys, builds and commissions a large industrial installation (a refinery, a chemical plant, a factory) and hands it over to the owner or operator.

The EPC is not the plant. In a big project it may buy Siemens, Emerson or ABB systems, subcontract integrators, receive OEM packages, and deliver the whole. Its financial and execution risk is high because the projects are large and long.

Commercially it sits at the top of one of the possible chains: plant owner, then EPC, then vendor, integrator and OEM. But the owner can also buy from the vendor directly, or through an integrator; there is no single chain (industrial ecosystem).

Once the EPC leaves, the relationships that last are the ones with whoever maintains the systems, which is where the aftermarket begins.